Dive Summary:

• Norwegian energy company Statoil gained approval from Maine's Public Utilities Commission to build one of the nation's first offshore wind power projects.
• The project would put four, three-megawatt wind turbines 12 miles off the coast on floating spar-buoy structures; the project was approved by a 2-1 vote.
• There are other conditions that must be met before the project can begin, but this initial approval is a major step; as part of the deal, Maine ratepayers would have to absorb above-market electricity rates totaling $203 million over 20 years.

From the article:

In a filing with the commission, state Energy Director Patrick Woodcock said Maine ratepayers would have to absorb above-market electricity rates totaling $203 million over 20 years to subsidize the project.

"First and foremost, this administration seeks to reduce high electricity costs to Maine families. Our energy costs are among the highest in the nation and if this project adds to that burden I have questions as to how economically viable it is for the State of Maine," Woodcock said. ...